RIO DE JANEIRO, BRAZIL - The joint venture between Royal Dutch Shell and Cosan, Raízen is seeking a valuation of R$70 (US$13.5) billion in its initial public offering (IPO), said sources with knowledge of the matter.
The valuation could range from R$60 billion to R$80 billion depending on demand, they added. Active in fuel distribution and sugar and ethanol production, Raízen decided to reduce the offer to about R$5 billion from the R$12 billion initially planned, sources said on condition of anonymity.
Raízen did not immediately respond to a request for . . .
To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here